Bitcoin’s recent behavior has been in line with the intentions of its developer Satoshi Nakamoto

Leon Fu, CTO and senior analyst at Cryptocurrency. Market, shared the main reason why bitcoin and cryptocurrencies in general are currently growing. In explaining this, he referred to the mysterious creator of BTC.

Fu tweeted that Сатоші Накамото" href="https://noworries.media/biography/satoshi-nakamoto/" data-bio-id="4232">Satoshi Nakamoto specifically developed the BTC in response to the US government’s 2008 bank bailout. Therefore, according to Fu, the main reason for BTC’s growth at the moment is again the government’s bailout of banks.

Back in 2011, Satoshi left a message on a bitcoin forum in which he shared his view on the banking system and the fiat currency system.

In particular, he said that banks require too much trust that their currency (what they hold) will not be devalued by central banks. Satoshi said that people trust banks to store their money and transfer it electronically, but «they lend this money in waves of credit bubbles with only a small share in reserve.»

In addition, banks charge huge fees, making micropayments almost impossible. The time banks spend on transactions is an eternity compared to the blockchain. That is why, according to Fu, BTC today behaves exactly as Satoshi Nakamoto expected it to do 12 years ago.

Since the beginning of March, the flagship cryptocurrency has soared to $ 26,000 and then exceeded $ 28,000, trading at $ 28,400.